Crest View International Comments on Tesla’s Explosive Stock Rally
HONG KONG--(BUSINESS WIRE)--Feb 5, 2020--
Crest View International has commented on American electric vehicle company Tesla Inc., as the company has seen a dramatic rise in its share price, bringing the year-to-date gain at just over 112%.
Tesla’s revised market capitalization stands at $160 billion U.S. dollars, meaning that the company is worth more than the top three U.S. automakers (General Motors $50bn, Ford $36bn and Fiat Chrysler $26bn) combined.
“Tesla has remained a leader within its field, having been manufacturing electric vehicles since 2008. Tesla has not lost market share within the electric vehicle market, with traditional auto-manufacturers trying to keep pace.” Commented James Turner, Director of Sales & Trading at Crest View International.
Analysts from Crest View International noted that Tesla went public in 2010 at $17 per share, the stock continued to rise at a steady pace until it soared to over $200 per share in 2013 after the first wave of its successful electric car range.
“In the next ten years, we can see Tesla as one for the largest companies in the world, with strong demand for their existing electric vehicles, the energy storage business unit is doubling each year, and the newly launched solar division unit is estimated to be valued at around $40 to $50 billion U.S. Dollars.” Commented Michael Kennedy, Head of Corporate Trading at Crest View International.
Tesla surge in price has also been reflected by its fourth-quarter results as well as the rising sales of its vehicles. The company’s fundamentals and future growth also remain a key indicator for its revised valuation.
Tesla’s founder Elon Musk has been pushing the company towards a clean and green future with the adoption for electric vehicles using better-performing batteries and the a future with autonomous driving.
About Crest View International
Crest View International Limited is a private wealth management company headquartered in Hong Kong. Crest View International manages over $8.74 billion (USD) on behalf of its clients from around the world. Established in 2013, Crest View International has been providing its clients with a range of assets including equities, fixed income, commodities and foreign exchange.
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SOURCE: Crest View International
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PUB: 02/05/2020 05:48 AM/DISC: 02/05/2020 05:48 AM